Answer / rajinder dhawan

Credit Note: Seller

( E.g) When we give any discount or sale return )

Discount Allowed/Sale Return xxxx ( Dr)

to Party Account xxxxx ( Cr)


Debit Note : Purchaser

( E.g When he received discount / purchase retrun to seller)

Party Account xxxxxx ( Dr)

to Discount Received/Purchase retunr xxxxx( Cr)

Answer / rdiyewar

IN THE BOOKS OF SELLER :-
debit note :-
by party a/c debit ----xxx
to sales a/c--------------xxx
to vat a/c---------------xxx

credit note:-
BY SALES A/C debit -----XXX
BY VAT A/C DEBIT -----XXX
TO PARTY A/C CR--------------XXX
in the books of purchaser the journal entry opposite

Answer / sridharan.v

IN THE BOOKS OF SELLER :-

Debitnote :-

party a/c Dr xxx
To sales a/c xxx
To vat a/c xxx
(Vat payable)
Creditnote:-

Sales A/C Dr XXX
VatA/C Dr XXX
(Vat Receivable)
TO partyA/C XXX
(Inthe books of purchaser the journal entry is just
opposite to the seller)

Answer / aslam

Credit note:

Debit Sales a/c

and Credit party's a/c

Debit note:

Debit party's a/c
And Credit the sales a/c

Answer / jitendra b jagtap

1) This debit not entry purchas account debit and vat
accounts credit. this entry in debit side.

2)This credit not entry seller account credit and vat
account debit entry.

Answer / jane

debit revenue
credit Receivable

Answer / revanth

debit note will issue when purchase returns
hence
party A/c (creditor) debit
to purchase returns A/c
credit note will issue when sales return hence
sales returns A/c debit
party a/c (debtor)

Answer / kuldeep

debit note books of seller.

party a/c dr.
to Exps. a/c

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